An offer to buy the 16.5 hectare site at Glenside has been accepted by the state government based on a number of conditions including the outcome of a Development Plan Amendment.
Cedar Woods Properties Limited, the preferred proponent selected last year to redevelop the site, has made an offer of $25.8 million, which will be used to fund a new mental health facility at Glenside.
In 2015 Renewal SA worked with Cedar Woods to conceive a master plan for a mixed-use redevelopment of the Glenside site. Subject to approval of the Development Plan Amendment the master plan envisages that up to 1000 homes will be built, including a mix of two and three storey detached and town houses, and apartments up to a maximum of eight storeys, with all housing adjacent existing properties built to a limit of two storeys.
“With a component of Affordable Homes, this project will provide a rare opportunity to live in Adelaide’s eastern suburbs, with plenty of open space as well as being close to the city.”
The Hon Stephen Mullighan, Minister for Housing and Urban Development
The community has been consulted widely on the redevelopment, with feedback focusing on the importance of retaining significant trees and open space, the provision of recreational areas and preservation of heritage buildings. As such, the master plan reflects a design that maintains most significant and regulated trees in the open areas, in addition to planting hundreds of new trees. Heritage buildings will also be adaptively reused, new cycling and pedestrian paths installed and an open space area landscaped and retained for recreation and storm water detention.
It is projected that the development project will result in the equivalent of 450 full-time construction jobs over the 10-year construction period, and generate $400 million for the construction and directly related industries in addition to wider economic benefits locally.
“This proposed development will also provide valuable work for a range of South Australian businesses including highly regarded builders Qattro, and urban design and planning firm Hames Sharley.”
The Hon Stephen Mullighan, Minister for Housing and Urban Development
Subject to the conditions of sale being met, Cedar Woods may proceed with site works as early as October 2016. Formal settlement is scheduled for early 2017.